I caught a rerun of Family Feud on GSN recently and the question was posed, “What profession has no room for errors?” They featured seven possible answers. I automatically thought of physicians, which was the top answer. After that, it became a little tougher. Police officer was up there, but neither pilot nor bus driver were. So what else could it be that 100 American people thought? I was on the edge of my seat to find out. Then they said it, "Construction"! Of course, being in the industry I know this, but I didn’t know that the majority of people on Family Feud would have thought of it.
Get Ready to Talk to Your Lender about a Construction Loan
Commercial Property Financing
As I found out recently by talking to Steve Canole, Vice President and Business Loan Officer at 1st State Bank, there aren’t as explicit criteria for securing a commercial construction loan as there are for residential mortgage financing. According to Steve, there are many more variables that lenders need to consider when reviewing a commercial property mortgage compared to a residential loan which is more stream lined. Primarily, these variables include whether it’s an investment property versus owner-occupied, the size of the project, the varied ways commercial real estate can be purchased and held, the various types of operating entities and how the owner chooses to operate and file taxes, and finally the loan/cost ratio of the project.
Construction Tips for Auto Dealerships
Currently, many Michigan auto dealers are feeling varying degrees of pressure from auto manufacturers to modernize their stores, some of which have never been renovated since they were originally built 50 years ago. While remodeling can be an expensive investment in your business, there are several benefits that go along with the improvements.
Ample Estimating Time Can Lower Price of Construction
Obviously, planning a construction project doesn’t happen overnight. In most cases, the client has a set occupancy date when construction has to be completed either to satisfy a contract they have acquired or to meet their seasonal market (to name two). During that construction project time frame, planning through completed project, there are five main activities that need to take place, which include design, cost estimating, obtaining regulatory approval, acquiring materials and construction.
Construction Scheduling for Dental Offices
Continually meet with patients throughout construction
Dentists sometimes put off improvements to their building space due to the anticipated disruption of their business. Determining how to remodel their office or relocate to a new space when a practice can’t survive without an active patient load can feel like a big risk. However, I’m here to tell you that it's possible to remodel, renovate or relocate a dental office with minimal impact to your practice when you use a professional contractor.
The Good and the Bad of How Contractors Lower Their Bids
In a competitive bid situation, contractors can go to the extremes to lower their bids, especially when work opportunities are scarce. In the end, a business owner may like the price, but may not like the final results.
An Answer to the Price per Square Foot Question
It never fails. Each and every trade show where I “man” the booth, the same question is asked that makes me cringe. This question is impossible to answer on the spot, as there are so many variables involved and it’s a slippery slope to give anyone an incorrect answer. Some of you may have guessed already, but the question I’m talking about is “What would the estimated square foot price be for a new [insert building type here] building?” Whether it’s a restaurant, manufacturing, medical or dental show, the answer is always the same—“it depends on the site, size and cost of the finishes you select,” which is usually followed by an eye roll of the inquirer. It's not a good feeling to let down a prospective customer, but, like I said, it’s never good to guess and tell someone too low and unknowingly get them excited about how inexpensive it could be, on the flip side, if you tell them too high, they walk away without any further discussion.
To Use or Not to Use a Pre-Engineered Metal Building
We have had all kinds of business owners from varying professions ask us about using a pre-engineered metal building when they’re fact finding about new construction for their business. We tell them a general rule of thumb to consider is that metal buildings are best for businesses that want an industrial look, or have a big enough budget to dress up a pre-engineered building with brick or EIFS (for example) to mask the industrial façade.
Using Your Building as a Marketing Tool
In your marketing plan you’ve probably included a budget for advertising, special events, direct mail, tradeshows, logoed goods, internet and social media to name a few, all in order to drive traffic to your business. One thing you may not have considered is the role of your building and how it can drive traffic to (or away from) your business.
What Makes a Contractor an Expert in Medical Construction?
In light of our staff architect, attending the Health Facilities Planning Seminar this month, I thought it was timely to discuss what makes a contractor specialized in medical office construction. To some people, all buildings with walls, floors and a ceiling are the same and the contractor shouldn’t make a difference when constructing it. While I believe that it always matters who the contractor is and how professional and customer service oriented they are, obviously, most any contractor can build simple buildings (how much hassle you want to deal with is up to you). However, a medical building is not a simple building. The healthcare industry is highly regulated and uses a plethora of specialty equipment or med gases each with its own requirements. Plus whether you’re dealing with a Patient Centered Medical Home or a surgery or endoscopy center, it’ll be easier to successfully achieve your goal